Allworth Financial LP Buys New Stake in Corteva, Inc. $CTVA

Key Points

• Allworth Financial purchased 20,397 shares of Corteva, valued at approximately $1.73 million, while institutional investors collectively own 81.54% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $91.50, compared with the stock’s recent price of $81.84.
• Corteva exceeded quarterly EPS expectations ($2.30 versus $2.24) despite a 1.2% year-over-year revenue decline, and announced a quarterly dividend of $0.18 per share, yielding about 0.9% annually.

Allworth Financial LP purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,397 shares of the company's stock, valued at approximately $1,727,000.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after buying an additional 11,760 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company's stock worth $3,645,000 after acquiring an additional 16,644 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Corteva by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company's stock worth $191,000 after acquiring an additional 980 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Corteva by 2.6% in the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company's stock valued at $526,000 after buying an additional 181 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Corteva during the 2nd quarter worth approximately $1,464,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several research analyst reports. CICC Research lifted their target price on shares of Corteva from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Corteva from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Citigroup upped their price objective on shares of Corteva from $85.00 to $86.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Jefferies Financial Group boosted their target price on Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Finally, UBS Group cut their price target on Corteva from $89.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.50.

Corteva Stock Up 3.0%

CTVA stock opened at $81.84 on Friday. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The firm has a market cap of $54.60 billion, a PE ratio of 54.20, a PEG ratio of 2.44 and a beta of 0.57. The firm's 50 day moving average price is $82.13 and its 200-day moving average price is $80.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva's dividend payout ratio (DPR) is 47.68%.

About Corteva

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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